Watsco Inc (NYSE:WSO) – Equities researchers at William Blair decreased their Q3 2017 EPS estimates for shares of Watsco in a research report issued to clients and investors on Monday. William Blair analyst R. Merkel now anticipates that the construction company will earn $1.82 per share for the quarter, down from their prior estimate of $1.89.

WSO has been the subject of a number of other research reports. Zacks Investment Research raised shares of Watsco from a “hold” rating to a “buy” rating and set a $169.00 price objective on the stock in a research note on Tuesday, August 1st. Morgan Stanley increased their price objective on shares of Watsco from $141.00 to $151.00 and gave the company an “underweight” rating in a research note on Monday, September 25th. Stifel Nicolaus reissued a “buy” rating and issued a $154.00 price objective on shares of Watsco in a research note on Thursday, September 7th. BidaskClub raised shares of Watsco from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, Wolfe Research began coverage on shares of Watsco in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Watsco currently has a consensus rating of “Hold” and an average price target of $161.17.

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Shares of Watsco (NYSE:WSO) opened at 163.32 on Tuesday. The company has a 50 day moving average price of $152.06 and a 200 day moving average price of $147.17. The company has a market capitalization of $5.34 billion, a PE ratio of 30.20 and a beta of 0.84. Watsco has a 1-year low of $128.60 and a 1-year high of $163.95.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.05. Watsco had a return on equity of 27.14% and a net margin of 7.12%. The business had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the business posted $1.82 earnings per share. The company’s revenue for the quarter was up 5.1% on a year-over-year basis.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Waldron LP purchased a new stake in shares of Watsco during the first quarter valued at approximately $224,000. Karp Capital Management Corp purchased a new stake in shares of Watsco during the first quarter valued at approximately $814,000. Keybank National Association OH raised its stake in shares of Watsco by 7.5% during the first quarter. Keybank National Association OH now owns 2,215 shares of the construction company’s stock valued at $317,000 after purchasing an additional 154 shares during the period. SG Americas Securities LLC raised its stake in shares of Watsco by 489.5% during the first quarter. SG Americas Securities LLC now owns 8,300 shares of the construction company’s stock valued at $1,188,000 after purchasing an additional 6,892 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of Watsco by 11.8% during the first quarter. Victory Capital Management Inc. now owns 9,105 shares of the construction company’s stock valued at $1,304,000 after purchasing an additional 964 shares during the period. Hedge funds and other institutional investors own 81.61% of the company’s stock.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $5.00 annualized dividend and a dividend yield of 3.06%. Watsco’s payout ratio is currently 93.11%.

About Watsco

Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.

Earnings History and Estimates for Watsco (NYSE:WSO)

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